Xbattery is a deep-tech company headquartered in Hyderabad that has raised $2.3 million in the seed funding round. The Bipin Patel Family Office led this major financial stimulus, and Jhaveri Credits were also involved in the round. The strategic capital investment is meant to drive the company to grow and expedite its mission of coming up with the indigenous battery technology. The funds are particularly set to fund essential research and development (R&D) activities, hardware procurement, and talent acquisition.

Aim and partnership to support the development of technology

Xbattery was established by a group of Sonu Mishra, Varshith Rao, and Satish Reddy. Their core mission is to help achieve the clean energy and electric vehicle targets in India. They are building an integrated battery management system called BharatBMS. This platform will support both EV and stationary storage.

The main idea of BharatBMS is to make India reliant on foreign technologies that are very costly to a great extent. The ability to develop a homegrown, state-of-the-art battery management system will enable Xbattery to offer a reliable and affordable solution that can be produced and implemented domestically, enhancing the domestic supply chain and increasing self-reliance.

The Bipin Patel Family Office investment is not just a financial deal but a partnership. The joint venture is an agreement between the two countries to aid in developing technology that will not only lessen the dependence of India on imported products but also help in making India energy self-sufficient and technologically independent in the most vital sector of energy, electric power. 

This investment will not only confirm the vision of the company, but it will also be an indication to investors that they are willing to commit to some fundamental-level technologies that will be crucial in ensuring energy security and technological sovereignty in India in the future. 

The co-founder and chief technology officer of Xbattery, Sonu Mishra, said,   “BharatBMS is more than a technology; it’s our commitment to India’s clean energy transition. By building the backbone of safe and scalable battery electronics, we are helping India reduce import dependence while setting global benchmarks for reliability and performance.”

Quotation Source: Business Standard  

Focus on self-reliance in battery electronics

Xbattery competes in a fast-growing and competitive environment. The Indian EV battery market is estimated to hit highs of $27.70 billion by 2028, as compared to the current level of $16.77 billion by 2023. This is due to the increasing environmental concerns, the declining cost of batteries, and the large impetus given by the government through initiatives and incentives.

The Indian battery management systems (BMS) market remains currently fragmented with several market players, including traditional and new ones. Other traditional market players, such as Exide Industries and Amara Raja Batteries, are also major rivals since they are shifting to more advanced lithium-ion battery systems. The emergence of new-age companies such as Log9 Materials and Exponent Energy is also rocking their own battery and fast-charging technologies.

The Xbattery has a unique selling point, its emphasis on creating an indigenous, high-voltage and single BMS platform, which stands out in a market that has been strongly dependent on imported technologies. This self-sufficiency in battery electronics is essential to the Indian goal of becoming a clean energy and EV powerhouse.

Conclusion

This seed round by the Bipin Patel Family Office in Xbattery is a major milestone for the deep-tech and clean energy industries in India. The $2.3 million capital will play a significant role in financing necessary research and development, acquisition of talent, and commercialization of its innovative BharatBMS platform. With the emphasis on creating a high-voltage and indigenous battery management system, Xbattery is set to become a key contributor to decreasing the Trinity of dependency on foreign technologies in India and accelerating the objectives of clean energy and the development of electric vehicles in the country.